• 11.16.23

    FDIC Proposes Corporate Governance and Risk Management Standards for Select Institutions

    In a significant development for state nonmember banks with assets of at least $10 billion (Covered Institutions), the Federal Deposit Insurance Corporation (FDIC) has recently proposed comprehensive corporate governance and risk management guidelines (NPR) that would impose significant ...

  • 11.14.23

    What the Injunction Against the CFPB’s Small-Business Data Collection Rule Means for You

    On October 26, a Texas District Court issued an expanded injunction preventing the CFPB from implementing and enforcing its small-business data collection rule issued under Section 1071 of the Dodd-Frank Act, so that it now benefits all companies subject to the rule.

  • 09.14.23

    CFPB Loses Major UDAAP Case

    On September 8, 2023, the U.S. District Court for the Eastern District of Texas issued an opinion and order vacating a March 2022 anti-discrimination update to the UDAAP section of the Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) Supervision and ...

  • 09.11.23

    The CFPB’s Summer 2023 Supervisory Highlights

    The Consumer Financial Protection Bureau’s (CFPB or Bureau) Summer 2023 Supervisory Highlights, which discusses key examination findings between July 2022 and March 2023, underscores the Bureau’s continuing aggressive interpretations of its authority.

  • 08.21.23

    California Imposes More Regulation on Commercial Financing

    After being the first state to impose disclosure requirements on small business finance transactions, California has now added an annual reporting requirement and subjected commercial finance companies to UDAAP claims. 

  • 07.14.23

    Supreme Court: Business Registration Statutes Don't Violate Due Process

    A recent decision by the U.S. Supreme Court will encourage forum shopping by enterprising plaintiffs, particularly to out-of-state jurisdictions where a defending business has few or no contacts.

  • 10.24.22

    Lights Out? Fifth Circuit Finds CFPB’s Funding Mechanism Unconstitutional

    On October 19, 2022, the Fifth Circuit sent shock waves through the financial world, ruling that the Consumer Financial Protection Bureau’s independent funding structure violates the U.S. Constitution’s Appropriations Clause.

  • 10.12.22

    Three Takeaways From the CFPB’s Fall 2022 Supervisory Highlights Special Edition

    Last week, the CFPB released a special edition of its Supervisory Highlights focusing on recent examination findings related to practices by student loan servicers and schools and colleges that directly lend to students. Here are three things you should know.  

  • 09.22.22

    California Enacts Legislation Regulating GAP Waivers

    In an effort to reduce allegedly “unnecessary junk products” sometimes included in automobile financing, on September 14, Governor Gavin Newsom signed into law Assembly Bill 2311, further regulating motor vehicle conditional sales contracts and the terms of guaranteed asset protection ...

  • 06.13.22

    Comment Deadline Approaching for CA’s Burdensome Proposal on Handling and Reporting Complaints

    July 5 is the deadline for submitting comments on the California Department of Financial Protection and Innovation’s proposed regulations on complaint handling and reporting, which would impose significant obligations on certain providers of consumer financial services in California.



pursuant to New York DR 2-101(f)

© 2023 Manatt, Phelps & Phillips, LLP.

All rights reserved